HOWL net incomeQ2 2026$3.67M
HOWL net income was $3.67M in fiscal Q2 2026 (ended Jun 30, 2026), compared with -$17.98M a year earlier. For the full fiscal 2025 it was -$60.82M, compared with -$70.52M in fiscal 2024.
Werewolf Therapeutics Inc. (HOWL) financials
For the twelve months ended Jun 30, 2026, Werewolf Therapeutics Inc. reported -$34.61M of net income.
- Net income, TTM
- -$34.61M
- EPS, diluted, TTM
- -$0.73
- Cash
- $21.99M
- Market cap
- $49.3M
FY2020FY2025
FY2020FY2025
HOWL revenue and earnings growth
HOWL EPSQ2 2026$0.08
HOWL diluted EPS was $0.08 in fiscal Q2 2026 (ended Jun 30, 2026), compared with -$0.40 a year earlier. For the full fiscal 2025 it was -$1.33, compared with -$1.63 in fiscal 2024.
HOWL free cash flowQ4 2025-$11.02M
HOWL free cash flow was -$11.02M in fiscal Q4 2025 (ended Dec 31, 2025), compared with -$14.38M a year earlier. For the full fiscal 2025 it was -$60.29M, compared with -$56.44M in fiscal 2024.
Income statement
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 |
|---|---|---|---|---|---|---|
| Research and development | $44.83M | $56.43M | $41.78M | $53.76M | $35.27M | $16.64M |
| Selling, general and admin | $15.85M | $19.05M | $18.67M | $18.70M | $14.82M | $5.76M |
| Operating income | -$60.68M | -$73.59M | -$40.50M | -$56.06M | -$50.09M | -$22.40M |
| Interest expense | $5.27M | $4.66M | $3.14M | $0 | - | - |
| Income tax | $0 | - | - | - | - | - |
| Net income | -$60.82M | -$70.52M | -$37.37M | -$53.81M | -$49.98M | -$15.04M |
| EPS, basic | -$1.32 | -$1.63 | -$1.05 | -$1.86 | -$10.94 | -$28.08 |
| EPS, diluted | -$1.33 | -$1.63 | -$1.05 | -$1.86 | -$10.94 | -$28.08 |
| Diluted shares | 46.8M | 43.9M | 35.6M | 28.9M | 18.5M | 1.0M |
Balance sheet
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 |
|---|---|---|---|---|---|---|
| Cash and equivalents | $57.05M | $112.22M | $155.58M | $130.53M | $158.83M | $92.57M |
| Current assets | $58.59M | $113.07M | $138.37M | $140.20M | $161.07M | $92.91M |
| Total assets | $69.40M | $126.93M | $174.83M | $160.25M | $179.25M | $96.40M |
| Current liabilities | $36.15M | $15.18M | $19.38M | $23.99M | $11.87M | $5.28M |
| Total debt | $32.09M | $32.09M | $40.00M | - | - | - |
| Total liabilities | $44.59M | $53.54M | $63.46M | $37.91M | $26.46M | $7.18M |
| Shareholders' equity | $24.80M | $73.39M | $111.37M | $122.34M | $152.79M | -$51.86M |
Cash flow
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 |
|---|---|---|---|---|---|---|
| Operating cash flow | -$60.29M | -$56.19M | -$32.61M | -$40.60M | -$42.88M | -$18.62M |
| Capital expenditures | $0 | $254.0K | $769.0K | $3.61M | $498.0K | $560.0K |
| Free cash flow | -$60.29M | -$56.44M | -$33.38M | -$44.21M | -$43.37M | -$19.18M |
| Investing cash flow | $0 | -$254.0K | -$769.0K | -$3.61M | -$498.0K | -$560.0K |
| Financing cash flow | $6.03M | $13.08M | $58.43M | $15.91M | $109.43M | $93.86M |
| Stock-based compensation | $6.25M | $8.83M | $8.01M | $7.40M | $4.09M | $632.0K |
Key ratios
Income statement
| Line item | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Research and development | $6.16M | $8.18M | $6.93M | $11.63M | $13.14M | $13.12M | $15.73M | $12.53M | $15.27M | $12.91M | $9.65M | $10.84M |
| Selling, general and admin | $7.68M | $5.09M | $2.48M | $4.09M | $4.40M | $4.87M | $4.62M | $4.60M | $4.83M | $5.00M | $4.81M | $4.31M |
| Operating income | $7.16M | -$13.27M | -$9.42M | -$15.73M | -$17.54M | -$17.99M | -$20.35M | -$17.12M | -$18.96M | -$17.16M | -$12.96M | -$9.25M |
| Interest expense | $475.0K | $1.37M | $1.37M | $1.34M | $1.30M | $1.26M | $1.27M | $1.24M | $1.14M | $1.00M | $1.01M | $1.00M |
| Net income | $3.67M | -$13.53M | -$8.38M | -$16.37M | -$17.98M | -$18.09M | -$20.40M | -$16.67M | -$17.25M | -$16.19M | -$12.00M | -$8.29M |
| EPS, basic | $0.08 | -$0.28 | -$0.16 | -$0.36 | -$0.40 | -$0.40 | -$0.46 | -$0.38 | -$0.40 | -$0.39 | -$0.34 | -$0.23 |
| EPS, diluted | $0.08 | -$0.28 | -$0.17 | -$0.36 | -$0.40 | -$0.40 | -$0.43 | -$0.38 | -$0.43 | -$0.39 | -$0.34 | -$0.23 |
| Diluted shares | 48.6M | 49.4M | - | 45.8M | 45.0M | 44.8M | - | 43.7M | 44.0M | 41.6M | - | 35.7M |
Balance sheet
| Line item | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $21.99M | $46.45M | $57.05M | $65.71M | $77.60M | $92.04M | $112.22M | $122.83M | $135.30M | $139.19M | $155.58M | $130.06M |
| Current assets | $22.89M | $48.73M | $58.59M | $68.17M | $80.44M | $94.46M | $113.07M | $125.83M | $138.79M | $142.28M | $138.37M | $139.26M |
| Total assets | $24.16M | $58.02M | $69.40M | $79.63M | $92.57M | $107.24M | $126.93M | $140.04M | $153.70M | $177.60M | $174.83M | $176.39M |
| Current liabilities | $7.86M | $38.52M | $36.15M | $17.60M | $15.17M | $11.67M | $15.18M | $12.46M | $11.44M | $21.21M | $19.38M | $14.44M |
| Total debt | - | $32.09M | $32.09M | $32.09M | $32.09M | $32.09M | $32.09M | $32.09M | $32.09M | $40.00M | $40.00M | - |
| Total liabilities | $7.86M | $45.82M | $44.59M | $50.01M | $51.10M | $49.93M | $53.54M | $50.66M | $49.69M | $60.01M | $63.46M | $63.94M |
| Shareholders' equity | $16.29M | $12.20M | $24.80M | $29.61M | $41.46M | $57.31M | $73.39M | $89.38M | $104.02M | $117.59M | $111.37M | $112.44M |
Cash flow
| Line item | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $6.63M | -$10.60M | -$11.02M | -$15.16M | -$15.16M | -$18.95M | -$14.25M | -$12.46M | -$14.18M | -$15.30M | -$4.58M | -$7.21M |
| Capital expenditures | - | - | $0 | $0 | $0 | $0 | $123.0K | $3.0K | $17.0K | $111.0K | $198.0K | $221.0K |
| Free cash flow | - | - | -$11.02M | -$15.16M | -$15.16M | -$18.95M | -$14.38M | -$12.46M | -$14.19M | -$15.41M | -$4.78M | -$7.43M |
| Investing cash flow | - | - | $0 | $0 | $0 | $0 | -$123.0K | -$3.0K | -$17.0K | -$111.0K | -$198.0K | -$221.0K |
| Financing cash flow | - | - | $2.37M | $3.27M | $388.0K | $0 | $2.55M | -$6.0K | -$9.72M | $20.26M | $9.07M | $41.0K |
| Stock-based compensation | $419.0K | $929.0K | $1.21M | $1.23M | $1.79M | $2.01M | $1.91M | $2.01M | $2.60M | $2.31M | $1.87M | $2.10M |
Key ratios
| Line item | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current ratio | 2.91 | 1.27 | 1.62 | 3.87 | 5.30 | 8.09 | 7.45 | 10.10 | 12.13 | 6.71 | 7.14 | 9.64 |
| Debt to equity | - | 2.63 | 1.29 | 1.08 | 0.77 | 0.56 | 0.44 | 0.36 | 0.31 | 0.34 | 0.36 | - |
Source: XBRL data Werewolf Therapeutics Inc. files with the SEC, latest filing dated Jul 31, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.
* Worked out from the filings rather than stated in them: Q4 is the full year less the first nine months.
Per-share figures are as filed. The filings show no stock split in these periods.
EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.
HOWL peers
| Company | Revenue | Growth | Net income | Net margin | Market cap |
|---|---|---|---|---|---|
| HOWL | - | - | -$34.61M | - | $49.3M |
| LLY | $86.46B | +45.5% | $27.58B | 31.9% | $1.27T |
| JNJ | $99.33B | +7.8% | $16.09B | 16.2% | $664.95B |
| ABBV | $66.01B | +10.7% | $10.34B | 15.7% | $514.92B |
| MRK | $67.38B | +4.9% | $2.45B | 3.6% | $361.71B |
| NVS | $54.53B | +8.4% | $13.98B | 25.6% | $310.17B |
| AZN | $58.74B | +8.6% | $10.22B | 17.4% | $289.10B |
| ABT | $48.23B | +10.0% | $4.70B | 9.7% | $190.39B |
| NVO | DKK 309.06B | +6.4% | DKK 102.43B | 33.1% | $178.51B |
HOWL FAQ
5 questionsIs HOWL profitable?
No. Werewolf Therapeutics Inc. reported a net loss of $34.61M for the twelve months ended Jun 30, 2026.How much cash and debt does HOWL have?
Werewolf Therapeutics Inc. reported $21.99M in cash and cash equivalents on its most recent balance sheet in SEC filings.What is HOWL earnings per share?
Diluted earnings per share were -$0.73 for the twelve months ended Jun 30, 2026, from SEC filings, restated for any stock split those filings show.When did HOWL last report financial results?
The latest statements here come from Werewolf Therapeutics Inc.'s 10-Q filed on Jul 31, 2026, covering the period ended Jun 30, 2026.Where does this HOWL financial data come from?
Quantisnow builds these statements from the structured XBRL data Werewolf Therapeutics Inc. files with the SEC. It is provided for information only and is not investment advice.